Existing Home Finance Customers

We understand that circumstances can change for many different reasons, sometimes causing financial hardship. All we ask is that you talk to us as soon as possible if you find yourself in financial difficulty. Talking about payment problems early on often makes them easier to resolve. To help our customers, we have a dedicated page our website which can be found here.

Unexpected life events, physical and mental health conditions, caring responsibilities and even financial crime can have a huge impact to our lives. If you have had a recent change in circumstances please let us know. We will consider your personal needs and circumstances and find the best way to help. Further information and practical support can be found here.

You will have a number of options available:

• You will be offered a product from the range available to existing customers.
• You can move to a variable rate linked to your account.
• You can refinance to another provider, although we hope that our service provided and products available will mean that you don’t feel the need to do this.

We will contact you approximately three months before your product expires to advise you of the current products available, which will include full details of how to switch to another product.

You can redeem or settle your finance at any time but depending on the product chosen an Early Redemption Charge may be payable. Full details are set out in the Key Facts Illustration (KFI) document, which accompanied your Finance Offer document. An account settlement fee will be payable. Details of how much this is can be found in our home finance Tariff of Charges.

You will need to appoint your own solicitor to manage the redemption on your behalf. Whilst it is not a requirement for your appointed solicitor to have experience of Shariah finance, it is desirable due to the differences in structure from conventional property finance. Gatehouse Bank don’t recommend a particular firm, but we can provide a list of solicitors that we know are experienced in Home Finance conveyancing, which can be found here. The Bank will also appoint its own solicitor to deal with the redemption on their behalf. Both solicitors will deal with the legal requirement of transferring the title of the property from the Bank to you.

To start the process of redeeming or settling your finance account we will need:

• The source of the funds being used to redeem the finance account. For example, the sale of a property or if you are refinancing to another provider.
• The name, address and email address of your solicitors.
• The date you would like to redeem.

Following receipt of the above our solicitor will make contact with your appointed solicitor to ensure that all information for the redemption is received and documentation for outstanding Land Registry applications are submitted appropriately. At this point, the Banks solicitor will draft the initial transfer documents that will be released following successful redemption to transfer the title from the Bank’s name into yours. Please ensure you are in regular communication with your solicitors on this matter to prevent any delays.

For more information, please contact our Customer Services Team:

• Within UK: 08000 353 253 (Mon-Fri, 9am-5pm)
• Outside UK: +44 20 7070 6960 (Mon-Fri, 9am-5pm UK time)
• gatehouse.servicing@gatehousebank.com
• Postal address: Gatehouse Bank, PO Box 79724, London, EC2P 2TR

Depending on the product chosen an Early Redemption Charge may be payable if you make Additional Acquisition Payments (often known as ‘lump sum’ payments), switch products or redeem your Purchase Plan during a Fixed Rental Rate Period. Full details are set out in the Key Facts Illustration (KFI) document, which accompanied your Finance Offer document.

To request an account statement, please contact our Customer Services Team:

• Within UK: 08000 353 253 (Mon-Fri, 9am-5pm)
• Outside UK: +44 20 7070 6960 (Mon-Fri, 9am-5pm UK time)
• gatehouse.servicing@gatehousebank.com
• Postal address: Gatehouse Bank, PO Box 79724, London, EC2P 2TR

Please contact our Customer Services Team (details below) confirming the changes you would like to make. Please note, it is wise to allow a minimum of ten working days before your payment is due to ensure that the changes take effect for your next payment cycle.

• Within UK: 08000 353 253 (Mon-Fri, 9am-5pm)
• Outside UK: +44 20 7070 6960 (Mon-Fri, 9am-5pm UK time)
• gatehouse.servicing@gatehousebank.com
• Postal address: Gatehouse Bank, PO Box 79724, London, EC2P 2TR

Depending on the product chosen, it may be possible to make Additional Acquisition Payments (often known as ‘lump sum’ payments) during a Fixed Rental Rate Period of your product. If you are unsure if this facility is available to you, you can check your Key Facts Illustration (KFI) document, which accompanied your Finance Offer document.

If this facility is available, you will have the ability to pay up to 10% of your balance with no additional fees. Any payment that exceeds the 10% threshold can still be made, however, there may be additional charges payable. The full details are set out in the Key Facts Illustration (KFI) document, which accompanied your Finance Offer document. Outside a Fixed Rental Rate Period, you can make Additional Acquisition Payments at any time.

We will need to know the source of the funds being used to make the Additional Acquisition Payment before the payment is made. Unless otherwise stated, the payment must come from a UK Bank account held in the same name/s as the finance account. To make an Additional Acquisition Payment you can contact us either via email or telephone informing us that you would like to make an Additional Acquisition Payment. At this point we can tell you what your new monthly payment or finance term will be, to enable you to make an informed decision before you proceed.

Following receipt of all required information, payment can be made into our Bank account for allocation to your account.

Please note the following:

• Any Additional Acquisition Payment has a minimum amount of £2,000.
• If your account is on an Acquisition and Rent basis and you maek an Additional Acquisition Payment, you will have the option to either:

- reduce your monthly payment and keep the finance term the same, OR
- reduce the outstanding finance term by keeping your monthly payment the same.

• If your account is on a Rent Only basis, your monthly payment will be reduced.
• Unless stated otherwise, the payment must come from a UK Bank account in the name of the finance account holder.
• We will confirm in writing any new monthly payment amount or revised term once you have made the Additional Acquisition Payment.
• If you are looking to switch to a new fixed rate product, any Additional Acquisition Payment must be made before the account is switched to a new product.

For more information, please contact our Customer Services Team:

• Within UK: 08000 353 253 (Mon-Fri, 9am-5pm)
• Outside UK: +44 20 7070 6960 (Mon-Fri, 9am-5pm UK time)
• gatehouse.servicing@gatehousebank.com
• Postal address: Gatehouse Bank, PO Box 79724, London, EC2P 2TR

To update your email address or telephone number, please contact our Customer Service Team:

• Within UK: 08000 353 253 (Mon-Fri, 9am-5pm)
• Outside UK: +44 20 7070 6960 (Mon-Fri, 9am-5pm UK time)
• gatehouse.servicing@gatehousebank.com
• Postal address: Gatehouse Bank, PO Box 79724, London, EC2P 2TR

To update your correspondence address:

Please email gatehouse.servicing@gatehousebank.com from your registered email address along with a copy of a bank statement or utility bill (dated within the last 3 months) showing your new correspondence address.

To request key changes to your existing home finance agreement, including:

• Adding or removing an account holder.
• Changing the term.
• Changes to any company structure (e.g. directors have changed).

Please contact our Customer Services Team below to discuss the change you would like to make. We will assess your request and confirm the options available.

• Within UK: 08000 353 253 (Mon-Fri, 9am-5pm)
• Outside UK: +44 20 7070 6960 (Mon-Fri, 9am-5pm UK time)
• gatehouse.servicing@gatehousebank.com
• Postal address: Gatehouse Bank, PO Box 79724, London, EC2P 2TR

If you are thinking about making improvements to your property, please contact us to discuss.

It is important to note, when signing the finance agreement you agreed not to pull down, alter, add to or in any way interfere with the construction or arrangement of the property without the consent of Gatehouse Bank. We will consider any reasonable request provided that any requisite statutory or public authority consent has been obtained.

When you have finalised the proposed changes to your property, please email gatehouse.servicing@gatehousebank.com with details of the improvements you intend to make along with any requisite statutory or public authority consent you have obtained for the Bank’s consideration.

Questions we often get asked include:

• Can I rent out my property if my circumstances change?
• Can I move into my Buy-to-Let Property?

To request a change of use for your property, please contact us to discuss the change you would like to make. We will assess your request and confirm the options available. Please contact our Customer Services Team:

• Within UK: 08000 353 253 (Mon-Fri, 9am-5pm)
• Outside UK: +44 20 7070 6960 (Mon-Fri, 9am-5pm UK time)
• gatehouse.servicing@gatehousebank.com
• Postal address: Gatehouse Bank, PO Box 79724, London, EC2P 2TR

It is your responsibility to pay all outgoings including charges for electricity, gas, metered water (if applicable), drainage and telecommunications facilities supplied to your property (including any reconnection fees and standing charges).

In addition, it is your responsibility to pay all assessments, charges, outgoings, rates, and taxes, including Council Tax (or equivalent), Ground Rent, Service Charges and water rates (if any) assessed on your property or the occupation of your property.

You should update utility and management companies with your correspondence details so they can communicate with you directly.

You can sell the property at any time, just like you can with a conventional mortgage. When you sell, the amount required to purchase the property will be the same as the original amount the Bank contributed (less any acquisition payments you may have made). This amount will not increase if the value of the property has risen. Please note that depending on the product chosen an Early Redemption Charge may be payable.

For more information, please view our videos: Home Purchase Plan or Buy-to-Let.

We always strive to do our best, but in the event we fall short we have an established complaints procedure, details of which can be found on our website here.

We appreciate that losing a loved one can be a very difficult and distressing time for you and your family. Our staff are available to offer support and guidance. If you would like to talk to someone to help you through the steps you need to take, please contact our Customer Service Team:

• Within UK: 08000 353 253 (Mon-Fri, 9am-5pm)
• Outside UK: +44 20 7070 6960 (Mon-Fri, 9am-5pm UK time)
• gatehouse.servicing@gatehousebank.com
• Postal address: Gatehouse Bank, PO Box 79724, London, EC2P 2TR